Investor Presentaiton
Armour Energy and controlled entities
Financial report continued
Notes to the consolidated financial statements continued
NOTE 30. INTERESTS IN JOINT OPERATIONS
Information relating to joint operations that are material to the Group are set out below:
PL 1084 (Formerly ATP 2046) Sykes Block
ATP119P South - Waldegrave
ATP119P South - Snake Creek East
ATP 212P PL 30
ATP212P PL512, PPL22
Weribone Pooling Area
PCA157 Bainbilla Block
ATP 754P
ATP 1087
PEP 169
PEP 166
Kanywataba Block
or personal line only
Name
100
STATEMENT OF FINANCIAL POSITION
Ownership interest
Principal place of business / Country of incorporation
30 June
2020
30 June
2019
Total current assets
%
%
Total assets
30 June
2020
Parent
$
792,406
armourenergy.com.au
30 June
2019
$
6,250,473
90,565,129
99,710,194
Queensland / Australia
10.00%
10.00%
Queensland
Australia
46.25%
46.25%
Total current liabilities
2,135,332
2,474,046
Queensland / Australia
25.00%
25.00%
Queensland / Australia
90.00%
90.00%
Total liabilities
Queensland Australia
84.00%
84.00%
51,344,615
55,291,576
Queensland / Australia
50.64%
50.64%
Queensland / Australia
24.75%
24.75%
Equity
Queensland / Australia
50.00%
50.00%
Issued capital
114,310,806
Queensland / Australia
30.00%
100.00%
Financial assets at fair value through other comprehensive income reserve
(5,337,946)
Victoria Australia
51.00%
51.00%
Share-based payments option reserve
Victoria Australia
Uganda
25.00%
16.82%
25.00%
Performance shares reserve
16.82%
Tribeca Loan Option Reserve
Accumulated losses
4,887,176
5,382
2,893,012
(77,537,916)
106,538,817
(4,296,703)
4,674,376
2,893,012
(65,390,884)
ACCOUNTING POLICY FOR JOINT OPERATIONS
A joint operation is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets, and
obligations for the liabilities, relating to the arrangement. The Group entered into joint arrangement with various parties for interest
in exploration tenements as disclosed above. Exploration expenditures incurred in relation to these joint operations have been
capitalised in accordance with AASB 6 Exploration for and Evaluation of Mineral Resources.
NOTE 31. PARENT ENTITY INFORMATION
Set out below is the supplementary information about the parent entity.
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
Loss after income tax
Parent
30 June
30 June
2020
$
2019
$
(12,147,033)
(18,597,164)
Other Comprehensive income for the year, net of tax
(1,041,248)
Total Comprehensive income
(13,188,281)
(1,488,893)
(20,086,057)
Total equity
39,220,514
44,418,618
GUARANTEES ENTERED INTO BY THE PARENT ENTITY IN RELATION TO THE DEBTS
OF ITS SUBSIDIARIES
As at 30 June 2020, the parent entity is a guarantor for its subsidiary Armour Energy (Surat Basin) Pty Ltd for debts relating to the
Tribeca loan facility.
CONTINGENT LIABILITIES
The parent entity had no contingent liabilities as at 30 June 2020 and 30 June 2019.
CAPITAL COMMITMENTS - PROPERTY, PLANT AND EQUIPMENT
The parent entity had no capital commitments for property, plant and equipment as at 30 June 2020 and 30 June 2019.
NOTE 32. RELATED PARTY TRANSACTIONS
PARENT ENTITY
Armour Energy Limited is the parent entity of the Group and listed on the ASX on 26 April 2012.
SUBSIDIARIES
Interests in subsidiaries are set out in note 31.
101View entire presentation